EFT vs. PHYSX

Last updated Apr 2, 2026

Compare and contrast key facts about Eaton Vance Floating-Rate Income Trust (EFT) and PIA High Yield Fund (PHYSX).

PHYSX is managed by PIA Mutual Funds. It was launched on Dec 31, 2010.

Performance

EFT vs. PHYSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Floating-Rate Income Trust (EFT) and PIA High Yield Fund (PHYSX). The values are adjusted to include any dividend payments, if applicable.

EFT vs. PHYSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFT Eaton Vance Floating-Rate Income Trust	-4.39%	-3.77%	13.17%	27.14%	-19.69%	21.00%	2.41%	16.85%	-6.14%	1.63%
PHYSX PIA High Yield Fund	-1.98%	1.82%	10.33%	16.17%	-11.70%	7.36%	8.03%	11.06%	-2.77%	8.04%

Returns By Period

In the year-to-date period, EFT achieves a -4.39% return, which is significantly lower than PHYSX's -1.98% return. Over the past 10 years, EFT has outperformed PHYSX with an annualized return of 5.76%, while PHYSX has yielded a comparatively lower 5.46% annualized return.

EFT

• 1D: -0.84%
• 1M: -1.44%
• YTD: -4.39%
• 6M: -5.13%
• 1Y: -6.62%
• 3Y*: 7.80%
• 5Y*: 3.52%
• 10Y*: 5.76%

PHYSX

• 1D: 0.37%
• 1M: -1.79%
• YTD: -1.98%
• 6M: -2.76%
• 1Y: 1.32%
• 3Y*: 6.87%
• 5Y*: 3.32%
• 10Y*: 5.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

EFT vs. PHYSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFT

EFT Risk / Return Rank: 18
EFT Sharpe Ratio Rank: 20
EFT Sortino Ratio Rank: 17
EFT Omega Ratio Rank: 15
EFT Calmar Ratio Rank: 22
EFT Martin Ratio Rank: 15

PHYSX

PHYSX Risk / Return Rank: 10
PHYSX Sharpe Ratio Rank: 10
PHYSX Sortino Ratio Rank: 8
PHYSX Omega Ratio Rank: 10
PHYSX Calmar Ratio Rank: 10
PHYSX Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EFT vs. PHYSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Income Trust (EFT) and PIA High Yield Fund (PHYSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EFT	PHYSX	Difference
Sharpe ratio Return per unit of total volatility	-0.48	0.30	-0.78
Sortino ratio Return per unit of downside risk	-0.56	0.41	-0.97
Omega ratio Gain probability vs. loss probability	0.91	1.07	-0.16
Calmar ratio Return relative to maximum drawdown	-0.56	0.27	-0.83
Martin ratio Return relative to average drawdown	-1.28	0.79	-2.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFT vs. PHYSX - Sharpe Ratio Comparison

The current EFT Sharpe Ratio is -0.48, which is lower than the PHYSX Sharpe Ratio of 0.30. The chart below compares the historical Sharpe Ratios of EFT and PHYSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EFT	PHYSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	0.30	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.83	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	1.34	-0.97
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.62	-1.36

Correlation

The correlation between EFT and PHYSX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EFT vs. PHYSX - Dividend Comparison

EFT's dividend yield for the trailing twelve months is around 9.86%, more than PHYSX's 7.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFT Eaton Vance Floating-Rate Income Trust	9.86%	9.55%	10.52%	11.09%	9.81%	5.24%	5.88%	7.41%	6.77%	5.73%	5.54%	6.57%
PHYSX PIA High Yield Fund	7.95%	8.44%	7.66%	7.12%	7.60%	6.14%	6.31%	6.76%	6.51%	6.37%	6.10%	6.40%

Drawdowns

EFT vs. PHYSX - Drawdown Comparison

The maximum EFT drawdown since its inception was -60.58%, which is greater than PHYSX's maximum drawdown of -24.10%. Use the drawdown chart below to compare losses from any high point for EFT and PHYSX.

Drawdown Indicators

	EFT	PHYSX	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-24.10%	-36.48%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-4.00%	-9.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.98%	-13.99%	-10.99%
Max Drawdown (10Y) Largest decline over 10 years	-45.51%	-19.86%	-25.65%
Current Drawdown Current decline from peak	-12.88%	-3.23%	-9.65%
Average Drawdown Average peak-to-trough decline	-8.80%	-1.89%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	1.37%	+4.32%

Volatility

EFT vs. PHYSX - Volatility Comparison

Eaton Vance Floating-Rate Income Trust (EFT) has a higher volatility of 5.25% compared to PIA High Yield Fund (PHYSX) at 1.84%. This indicates that EFT's price experiences larger fluctuations and is considered to be riskier than PHYSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFT	PHYSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	1.84%	+3.41%
Volatility (6M) Calculated over the trailing 6-month period	6.96%	2.56%	+4.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.97%	4.34%	+9.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	4.02%	+8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	4.09%	+11.65%